FX.co ★ Baltic Dry Index Jumps on Tuesday

The Baltic Exchange's dry bulk index, a key indicator of freight costs for ships carrying dry goods, experienced a significant rise for the third consecutive session on Tuesday. The index surged by 12.3%, reaching its highest levels since December 19, and closed at 1,999 points. This increase was primarily driven by the larger vessel category. Specifically, the capesize index, which handles large cargoes, typically around 150,000 tons such as iron ore and coal, jumped 22.4%, closing at 3,215 points. Meanwhile, the panamax index, which generally carries smaller loads, approximately 60,000-70,000 tons of coal or grain, edged up by 0.8% to 1,625 points. Additionally, the supramax index saw a slight increase of 0.4%, reaching 1,039 points.